Mortgage Impairment Insurance

This coverage protects banks and other financial institutions for their mortgagee interests on property owned by mortgagors that have secured loans from them. Because the mortgagor is required to carry first-party coverage on the mortgaged property, this insurance is secondary and protects the interest of only the mortgagee. It may also cover a broader range of perils including flood, wave … Read More

Apartment Complexes

Apartment complexes provide housing to individuals who pay rent to the building owners. Amenities vary and can include community centers, golf courses, exercise facilities, and other activities. The types of structures vary, ranging from multi-unit single story frame dwellings to high-rise, sprinklered, fire resistive buildings.

Appraisers

Appraisers provide objective and unbiased estimates of the value of certain property. Many specialize in specific types of property, such as real property, jewelry, antiques, or fine arts. This coverage protects individual appraisers or appraisal firms against claims that allege negligence or bias in preparing appraisals.

Home Sellers Liability

This coverage reimburses home sellers for monetary losses and legal expenses from claims of defects in the home or property by home purchasers. It is usually purchased by real estate firms to cover sales of listed homes and is automatically provided to all listed home sellers. It pays up to stated amounts to reimburse monetary loss and legal expenses. It … Read More

Vacation Income Property

Unoccupied vacation property that is a financial drain to the owner can be turned into an income producer. When it is unoccupied the expenses for a caretaker to watch over it rise as does the cost to insure a vacant dwelling. However, a property management firm can be hired to oversee and rent out the property. The rental fee should … Read More

Abstracters

This coverage insures against claims that arise from alleged negligent acts, errors, or omissions in researching the validity of real estate property titles and any restrictions on them. Coverage applies to claims that arise due to an abstractor providing either faulty or incomplete information about the title. It is usually written subject to a minimum deductible per claim and is … Read More